The Market value of Advertising industry in China attained a value of USD 84,554.34 Million in 2020
The industry recorded a historical growth (CAGR) of 1.49% between 2017 to 2020, and is expected to grow by ...
GlobalData projects the industry to grow at a CAGR of ...
The market value of advertising industry in China recorded a single-digit YoY decline in 2020
The Chinese advertising industry experienced strong growth in 2019 before declining in 2020.
The advertising industry is highly correlated with consumer spending and financial power. When consumers have high financial power, it influences their spending patterns to a great extent and in most cases encourages them to spend more money on products and services. This trend has driven demand for advertising upwards, as players within the advertising industry have taken advantage of that spending pattern, promoting more products and services through advertisements. However, the economic slump and strained relations with the US caused the growth in the economy to slow in 2019, which led to a decline in the industry.
The advertising industry consists of revenues gained by any advertising activities or agencies providing advertising services, including display advertising services.
Impact of COVID-19 advertising industry in China
In 2020, the industry achieved only weak growth in 2020 due to the impact of the COVID-19 pandemic, managing to avoid a sharp decline which occurred in many other markets.
Traditional advertising – which incorporates TV, radio, outdoor billboards, and print media – has been in decline for some time as it has struggled to find a place in an industry increasingly dominated by digital marketing. COVID19 has accelerated this trend as people have been forced into isolation and turned to mobile devices and streaming platforms for their news and entertainment.
Leading Companies
The Chinese market, like the majority of others globally, is dominated by large global players, in this case Dentsu, IPG, Publicis and WPP. While other smaller players are present, these four leading players hold a significant market share and, as a result, competition is rife between these firms. These firms also tend to be highly acquisitive due to their large size and financial power, meaning that they are often present through a number of brand names.
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